tag:blogger.com,1999:blog-1292493354176465887.post7273875449859626052..comments2012-01-03T17:27:58.462-08:00Brian T. Reesehttp://www.blogger.com/profile/14676529135087720312noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-1292493354176465887.post-2675541718012519662010-09-23T19:15:54.757-07:002010-09-23T19:15:54.757-07:00Could be the most interesting blog that I read all year!?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1292493354176465887.post-75297835430041791722008-07-26T09:01:00.000-07:002008-07-26T09:01:00.000-07:00Thanks for the well thought out comments. I completely agree with your ideas towards education. Hopefully our school systems will pick up where we are lagging behind.<BR/><BR/>One development I can see happening is the ever-expanding gap between rich and poor (meaning the slow erosion of the middle class). The "Have's" will send their children to private schools from a young age. The "Have-Not's" will continue in the public school system, where the potential for learning science and engineering will be limited.<BR/><BR/>The infrastructure argument is a good one as well. I have read various articles on the subject and think it should be examined more carefully by our government.<BR/><BR/>Hope the GMAT goes well. Let me know.<BR/><BR/>-BrianBrian Reesehttp://www.blogger.com/profile/14676529135087720312noreply@blogger.comtag:blogger.com,1999:blog-1292493354176465887.post-18011109453554606812008-07-24T18:19:00.000-07:002008-07-24T18:19:00.000-07:00Comparing China and US is not exactly fair, as far as return on investment is concerned. China is a ravenous giant that is growing and is in its stage of industrialization. I assure you that US was quite a sight during its industrial revolution. Return to capital expenditure is higher in China and so capital floods there. It is labor rich but capital poor. US is capital rich, so we invest it in China where the return is higher.<BR/><BR/>As for your question about our young people studying math and science. I think it is, as all situations, a complicated one. However, I believe that culture plays an important part in who decides to do what. I love to compare US to the former Soviet Union, because the approach to education is at the opposite ends of the spectrum.<BR/><BR/>The Soviet bloc stressed hard skills, technical ability, and analytical skill. The US stresses creativity and innovative spirit. This leads most Americans to choose careers in business or the liberal arts. This is certainly much easier than attending laboratories, carrying out complex analyses, and studying differential calculus. Another reason is the role of abstraction and Americans’ dislike of it. All sciences are abstract and do not have definite form until applied to a given principle or example. However, getting to that example requires a lot of studying, which is not very appealing to majority of American youth. This, by the way, is true of most immigrant children who grew up in US, as well.<BR/><BR/>Another important factor is the low quality of mathematics and science education in primary education. US lags most post-industrial countries in these two categories. It is difficult to make a transition, or to even be accepted, to an academic program that revolves around science and mathematics. Immigrants who come here – ages 13 and up – usually have a much more concrete understanding of these fields as a result of more rigorous education in their former home nation.<BR/><BR/>To quickly return to the issue of investment in the US. One of the most important investments that US should be making is in infrastructure. If we do not invest more in our roads, bridges, buildings, various grids and supply lines, etc., within 50 years we will live in what could be considered a third world nation as far as infrastructure is concerned. Otherwise, we have plenty of great things to invest in. US is still one of the most productive nations in the world. Regardless of what is happening at the moment, I have plenty of faith in American ingenuity and dare do to take us into a bright and prosperous future.Alexhttp://www.blogger.com/profile/15811002344470141248noreply@blogger.comtag:blogger.com,1999:blog-1292493354176465887.post-8259583792891448422008-07-24T06:13:00.000-07:002008-07-24T06:13:00.000-07:00Interesting thoughts Alex. I agree with most of your points.<BR/><BR/>Why aren't more of our young people studying science and engineering? Granted, I didn't, but have never wanted to. We are falling behind other countries and it's happening right before our eyes.<BR/><BR/>I agree that China is labor rich. However, foreign investment will continue to increase as their economic structures continue to develop. <BR/><BR/>This discussion was supposed to have a flair towards "investment potential." China has more investment potential than the United States.Brian Reesehttp://www.blogger.com/profile/14676529135087720312noreply@blogger.comtag:blogger.com,1999:blog-1292493354176465887.post-90340988167509610472008-07-21T15:46:00.000-07:002008-07-21T15:46:00.000-07:00Brian,<BR/><BR/>When you are discussing the United States economy, you have to talk about it in relative rather than absolute terms.<BR/><BR/>United States. We are still one of the most innovative countries in the world. US is a leader in biotechnology, nanotechnology, and information technology; though it shares that title with other nations, which is a good thing.<BR/><BR/>Education. There is, however, one thing that threatens US. People educated in sciences and mathematics who are either leaving or are not coming here. More visas must be granted to individuals who want to come to the US research institutions to add value to our overall economy.<BR/><BR/>Japan. While it certainly issues a lot of patents, their patent laws are different from that of the United States, and often ends up spilling out more patents than are really deserved.<BR/><BR/>China. The dragon from the east is not exactly innovative. Rather, it imports innovations of others. It is an integrator, and will continue to be an integrator for years to come. It is a nation still relatively abundant in labor rather than capital. Therefore, while capital spending will continue to increase, it will still focus on assembly. I will concede one point, they are trying to shake out dirty industries and move into markets for more advanced, high value-added products. How and when they will get there remains to be seen.<BR/><BR/>Exports. United States is still an extremely important exporter. However, you and I are not interested in industrial and manufacturing exports. We are interested in exports and imports of services and high value-added items.<BR/><BR/>Savings? I do agree with you about US spending habits. Americans are saving next to nothing; I know that I do not have to tell YOU that. However, our deficit with China is difficult to avoid. American love a bargain and no one, at the moment, provides a bargain like China.<BR/><BR/>I'll stop here.Alexhttp://www.blogger.com/profile/15811002344470141248noreply@blogger.com